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December 17, 2008

HUD Sec.: Housing Relief Efforts Failed
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The nation’s top housing official has admitted government efforts to
help struggling homeowners have failed. In an interview with the
Washington Post, Secretary of Housing and Urban Development Steve
Preston said the federal “Hope for Homeowners” program has attracted
only 312 applications since its October launch. The initiative was
billed as a massive effort that would help nearly half-a-million
borrowers avoid foreclosure.



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